LPJIX vs. AOA

Last updated Aug 1, 2026

LPJIX (BlackRock LifePath Dynamic 2035 Fund) and AOA (iShares Core 80/20 Aggressive Allocation ETF) are both funds - LPJIX is a Target Retirement Date fund managed by BlackRock, while AOA is a Diversified Portfolio fund tracking the S&P Target Risk Aggressive Index. Over the past 10 years, LPJIX returned 8.57%/yr vs 10.24%/yr for AOA. Their correlation of 0.95 means they have usually moved in the same direction. LPJIX charges 0.48%/yr vs 0.15%/yr for AOA.

Performance

LPJIX vs. AOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Dynamic 2035 Fund (LPJIX) and iShares Core 80/20 Aggressive Allocation ETF (AOA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LPJIX achieves a 7.91% return, which is significantly lower than AOA's 10.08% return. Over the past 10 years, LPJIX has underperformed AOA with an annualized return of 8.57%, while AOA has yielded a comparatively higher 10.24% annualized return.

LPJIX

• 1D: 1.82%
• 1M: 0.14%
• 6M: 5.47%
• YTD: 7.91%
• 1Y: 15.91%
• 3Y*: 10.44%
• 5Y*: 5.60%
• 10Y*: 8.57%
• ALL TIME*: 8.53%

AOA

• 1D: 0.88%
• 1M: 0.63%
• 6M: 6.83%
• YTD: 10.08%
• 1Y: 20.64%
• 3Y*: 16.44%
• 5Y*: 8.87%
• 10Y*: 10.24%
• ALL TIME*: 10.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AOA iShares Core 80/20 Aggressive Allocation ETF	$10.91M	$10.17M	$10.41M
LPJIX BlackRock LifePath Dynamic 2035 Fund	$0.00	$0.00	$0.00

LPJIX vs. AOA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LPJIX BlackRock LifePath Dynamic 2035 Fund	7.91%	15.27%	4.57%	17.50%	-16.57%	12.73%	13.52%	23.67%	-6.36%	18.98%
AOA iShares Core 80/20 Aggressive Allocation ETF	10.08%	19.59%	13.55%	18.27%	-16.23%	15.42%	12.82%	22.60%	-7.86%	20.05%

Correlation

The correlation between LPJIX and AOA is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Jun 30, 2010	0.95

The correlation between LPJIX and AOA has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

LPJIX vs. AOA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LPJIX

LPJIX Risk / Return Rank: 61
LPJIX Sharpe Ratio Rank: 55
LPJIX Sortino Ratio Rank: 55
LPJIX Omega Ratio Rank: 53
LPJIX Calmar Ratio Rank: 67
LPJIX Martin Ratio Rank: 74

AOA

AOA Risk / Return Rank: 77
AOA Sharpe Ratio Rank: 78
AOA Sortino Ratio Rank: 77
AOA Omega Ratio Rank: 78
AOA Calmar Ratio Rank: 71
AOA Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LPJIX vs. AOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Dynamic 2035 Fund (LPJIX) and iShares Core 80/20 Aggressive Allocation ETF (AOA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	LPJIX	AOA	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.81	-0.33
Sortino ratio: Return per unit of downside risk	2.12	2.53	-0.41
Omega ratio: Gain probability vs. loss probability	1.27	1.33	-0.06
Calmar ratio: Return relative to maximum drawdown	2.29	2.53	-0.24
Martin ratio: Return relative to average drawdown	9.37	10.66	-1.28

LPJIX vs. AOA - Sharpe Ratio Comparison

The current LPJIX Sharpe Ratio is 1.47, which is comparable to the AOA Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of LPJIX and AOA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LPJIX vs. AOA - Drawdown Comparison

The maximum LPJIX drawdown since its inception was -29.86%, which is greater than AOA's maximum drawdown of -28.38%. Use the drawdown chart below to compare losses from any high point for LPJIX and AOA.

Drawdown Indicators

	LPJIX	AOA	Difference
Max Drawdown Largest peak-to-trough decline	-29.86%	-28.38%	-1.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.64%	-8.20%	+1.56%
Max Drawdown (3Y) Largest decline over 3 years	-16.69%	-12.94%	-3.75%
Max Drawdown (5Y) Largest decline over 5 years	-23.71%	-23.62%	-0.09%
Max Drawdown (10Y) Largest decline over 10 years	-29.86%	-28.38%	-1.48%
Current Drawdown Current decline from peak	-0.98%	-0.36%	-0.62%
Average Drawdown Average peak-to-trough decline	-3.90%	-4.03%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	1.94%	-0.32%

Volatility

LPJIX vs. AOA - Volatility Comparison

BlackRock LifePath Dynamic 2035 Fund (LPJIX) and iShares Core 80/20 Aggressive Allocation ETF (AOA) have volatilities of 3.10% and 3.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LPJIX	AOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.10%	3.26%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	8.64%	9.63%	-0.99%
Volatility (1Y) Calculated over the trailing 1-year period	10.33%	11.49%	-1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	13.11%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.89%	13.51%	-0.62%

LPJIX vs. AOA - Expense Ratio Comparison

LPJIX has a 0.48% expense ratio, which is higher than AOA's 0.15% expense ratio.

Dividends

LPJIX vs. AOA - Dividend Comparison

LPJIX's dividend yield for the trailing twelve months is around 4.01%, more than AOA's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOA iShares Core 80/20 Aggressive Allocation ETF	2.11%	2.18%	2.30%	2.22%	2.10%	1.67%	1.71%	2.50%	2.37%	5.09%	2.26%	2.15%
LPJIX BlackRock LifePath Dynamic 2035 Fund	4.01%	3.98%	0.77%	3.17%	2.12%	11.29%	1.89%	5.20%	11.21%	8.99%	1.89%	4.52%

Frequently Asked Questions

Can I hold both LPJIX and AOA in my portfolio?

With a correlation of 0.96, LPJIX and AOA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, LPJIX or AOA?

AOA has higher volatility (3.26%) compared to LPJIX (3.10%). In terms of maximum drawdown, LPJIX dropped -29.86% vs AOA's -28.38%.

Which has better risk-adjusted returns?

AOA currently has the higher Sharpe Ratio (1.81 vs 1.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.